India, Feb. 21 -- Foodtech major Swiggy plans to invest INR 1,000 Cr in its wholly owned subsidiary Scootsy Logistics Pvt Ltd.

In an exchange filing, the company said that its board approved the investment by subscribing to a rights issue in one or more tranches. The transaction will value one share of the subsidiary at INR 7,640.

Swiggy said that the investment is for working capital and other capital expenditures as part of the company's business expansion.

Scootsy is an intracity online delivery service that deals in categories such as restaurant and gourmet food, toys, beauty, electronics and more to the customer's doorstep. Besides, its services also include warehouse management, in-warehouse processing that includes value added s...